In the new issue of Regulation, economist Pierre Lemieux argues that the recent oil price decline is at least partly the result of increased supply from the extraction of shale oil. The increased supply allows the economy to produce more goods, which benefits some people, if not all of them. Thus, contrary to some commentary in the press, cheaper oil prices cannot harm the economy as a whole.

Two long wars, chronic deficits, the financial crisis, the costly drug war, the growth of executive power under Presidents Bush and Obama, and the revelations about NSA abuses, have given rise to a growing libertarian movement in our country – with a greater focus on individual liberty and less government power. David Boaz’s newly released The Libertarian Mind is a comprehensive guide to the history, philosophy, and growth of the libertarian movement, with incisive analyses of today’s most pressing issues and policies.

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Honduras’ Interim Government Falls Into Zelaya’s Trap

Once again, and as a response to the return of deposed president Manuel Zelaya to Tegucigalpa, the interim government of Honduras has overreacted by decreeing a 45-day suspension of constitutional guarantees such as the freedom to move around the country and the right to assemble. The government is even imposing some restrictions on freedom of the press. More disturbingly, today the army shut down a radio station and a TV station supportive of Zelaya.

As I’ve written before, these measures are unnecessary, counterproductive and unjustified. While Zelaya’s supporters are known for repeatedly relying on violence, their actions have been so far contained by the police and the army. Zelaya himself is secluded at the Brazilian Embassy, and while he is using it as a command center to make constant calls for insurrection, the authorities have so far been in control of the situation.

One of the most troubling aspects of the suspension of constitutional guarantees is that they effectively obstruct the development of a clean, free, and transparent election process. Let’s remember that Honduras is holding a presidential election on November 29th, and many regard this electoral process as the best way to solve the country’s political impasse, particularly at an international level.

There can’t be a free and transparent presidential election while basic constitutional rights have been suspended. By adopting these self-defeating measures, the interim government of Honduras is lending a hand to Zelaya and his international allies in their effort to disrupt the country’s election process.